$10 for New (Referred) Signup to Up Banking - $5 for Both on Signup, $5 for Referrer after 5 Transactions

1050

You can earn up to $10 for every mate you invite to Up. Once you’ve qualified you can send invites to your friends' mobiles. After they successfully sign up, you’ll each get $5. Once they make 5 purchases in their first 30 days you'll receive another $5.

You'll need to be using the latest version of the app.

Up has no monthly fee, no international transaction fees and 2.75% 2.25% interest rate with the only condition being 5 card transactions made.

Also has instant Apple and Google Pay provisioning so you can use your $10 before receiving the physical card.

Referral Links

Referral:  seawolf82 or random (440)

$5 for referrer and referee. Referees will need to give referrers their name & mobile number.

Related Stores

Up
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Comments

  • +4 votes

    Has anyone used Up before? I'm looking to move banks and Up is high on my list.

    • +2 votes

      Yes, but I ended up going with 86400 for savings and ING for everyday.

      • +4 votes

        Can you elaborate on your reasons?
        86400 requires $1k deposit every month to get the interest rate, which can be a hassle.
        On the other hand 86400 has a $100k savings cap for the high interest rate, while up is $50k.

        And why do choose ING for everyday?

      • +2 votes

        Curious too because I did the opposite - started off 86400 but now use Up as main savings.

        I find it better in every way - just missing the 'multiple balances from other banks' feature is missing.

        •  

          I use ING as my main everyday with 86400 I don't do the 5 tap and pays with it to be able to get the bonus interest.

        •  

          There's an app called Pocketbook that I've found useful for keeping an eye on several bank account balances, from different banks, in the one place. Perhaps it'd be helpful for you too? Thought I'd leave you the link to check it out anyway, just in case: https://getpocketbook.com/.

          (As with everything, on OzBarg & beyond, your mileage may vary - please take the time to review their privacy policy beforehand, & consider your own individual circumstances, etc., & whatever other disclaimers I've forgotten, beforehand.)

      •  

        When I last checked, 86400 didn't have BPay so paying bills was a pain. Up did eventually get it so now it's my main account.

        •  

          this is from the iOS app store listing:
          What’s New
          Version History
          9 Dec 2019 Version 2.6.3
          You can now pay your bills with BPAY using the 86 400 app, as well as search for PayIDs from your phone contacts. And in our next update, you'll be able to save BPAY billers and PayIDs to your address book too.

          • +3 votes

            @andresampras: Yeah, this would be about 6 months after Up implemented it. Too little too late. I emailed them about this and never got a response. You can message Up about bugs/enhancements and they get back to you within hours.

            • +1 vote

              @bui: sorry, didn't mean to upset you. I've only heard about Up and 86400 today.

              •  

                @andresampras: Not upset. Just stating some differences between the two for people still deciding.

                • +1 vote

                  @bui: the only thing you've pointed out is that you got no response from 86400 when you contacted them.

                  for anyone joining today, BPay is available on 86400 and therefore 'too little too late' doesn't apply to them. That's all I was attempting to post, since I was looking at the two app store listings.

                  • +1 vote

                    @andresampras: Customer service is important for some people. Especially for neobanks that have no physical presence.
                    How quickly features are rolled out is also important for some people. Especially for neobanks that are competing on differentiating features.
                    I guess that was my point from the beginning.

                    •  

                      @bui: Fair enough. I guess if you're happy with Up that's all that matters.

                      After looking at these neobanks for the last 30mins, I'm not seeing any real benefits (to me) over say a bankwest transaction account. I'm not comfortable as yet with linking multiple bank accounts to one for ease of use, although that does sound very convenient.

                      • +2 votes

                        @andresampras: That's something Up doesn't have yet. One thing that made me switch is having better access to metadata of my transactions, exact time, location and being able to assign these to contacts so you can see all transactions for a single contact.
                        Transactions in my Commbank app for a shared account are so cryptic it takes me ages to figure out the source.

                        •  

                          @bui: that does sound good. Maybe I should contact Bankwest about it and see if they reply haha (Given it took them a ton of time and customer pressure to eventually announce apple pay, I'm not holding my breath)

      • +1 vote

        Neobank's in Aus:

        86 400
        Up
        Tyro Payments
        Volt Bank
        Xinja

    • +5 votes

      I've been playing around with them for a few days now and I'm pretty impressed with the phone app, the only downside really is that there isn't a web interface just yet, though it's on their roadmap.

      There's no fee for just having the account so you might as well sign up, get your sign on bonus and have a play with it.

    •  

      yes, all works well from the app

    • +3 votes

      I have it right now, it has some pretty good features like being able to label any transaction (Renaming / Tags) for arguably the best transaction clarity of any bank, Round Up (Round up transaction account to an even amount and transfer the change to your Savers)

      Also you can withdraw from your Savers account without any consequences to the interest rate

    • +2 votes

      I'm using Up for my overseas travel expenses (i.e the no overseas transaction fee); for example when I go overseas and want to pay for items or restaurants and they accept card, I'd use Up :)
      Pretty easy to use and I like that I can just transfer the money from my primary bank to Up before I go to the counter to pay.

      Also like seeing the direct Aussie dollar equivalent in my phone's pop up as soon as I pay

    • +1 vote

      Yes it's by far the best experience I've had with bank, but like all Neo banks it's not suitable as a primary bank obviously.

      There's an obvious limit of $50k savings if you're looking for banks to put your money, but I find it incredibly useful for isolating my "splurge" (spend money without worrying) funds from my other savings, and it gives great interest rates to boot!

      You do need to use the card a lot, but after you see how useful the transaction history is, you'll definitely want to.

      •  

        why can't you use it as your primary bank?

        • +2 votes

          To those who are paying mortgage and have offset accounts, I think (not an expert here), it's better to put all your money in the primary bank with the mortgage/loan account. This way, you have less interest from the loan

      • +4 votes

        I’m using Up as my main bank. I just have a NAB card for cash deposits into ATMs and that’s it.

      • +1 vote

        This is what I do. The fact Up rounds up and puts the difference to savings is helpful.

    • +3 votes

      I've got it and I'm looking to shut down all of my other banks and move solely to Up. :)

    • +1 vote

      Yeah, I use it as my main bank

    • +2 votes

      What I like the most is up is how it organises your expenses

    • +1 vote

      Yeah, been on it for ages. Good product, zero hassles so far.

    • +1 vote

      I'm using it. Great product. When you experience a bug they respond quickly and are very helpful. There are very frequent updates to make improvements. I'm particularly looking forward to the upcoming foreshadowed improvement (see their tree published online which shows you what they are working on) that automatically matches expenses and draws upon your savers to meet those expenses. It will make budgeting completely effortless and then I'll probably use them for almost all transaction stuff.

    • +1 vote
      1. Ubank. Reason: interest rate (bonus interest rate, that is).
      2. Macquarie. Reason: No international conversion fees.

      Macquarie also has gift card discounts I think (which I always forget to check and use - I think one is ebay??). The easiest and fastest online signup I've seen!

  • +2 votes

    I got the $10 within a couple of days with the previous 86400 deal.
    https://www.ozbargain.com.au/node/490884

  •  

    What's Up?

    badum tish

  • +12 votes

    I've been with UP for over a year now, have all my savings in it and I have had a much better experience than with the Commonwealth Bank app for example. The development team behind it are super transparent and provide updates every few weeks to the app along with detailed blog posts and future roadmaps etc.

    Feel free to reply if you have questions I love this freaking app/bank hey.

    • +5 votes

      The transparency was what really sold it for me.

      Little things like their blogs talking about the vertical card design, making the signup process exceedingly streamlined (which it is!), things like that.

      I really appreciate people and companies that want to make the best possible 'thing', not the most profitable, and it shows here.

      •  

        And I know this post is about the referral process to get more people to sign up, but UP have not spammed me with information about the 'Bring a Mate $5/$10' offer. Other things I am signed up with always hassle me about referrals constantly.

  • +5 votes

    Its 2.25% interest rate and not 2.75%. Atleast this is what i am getting at the moment.

    I am impressed with the mobile app and usually use Apple Pay linked to the account for all purchases. It helps me in tracking purchases based on various category.

    • Updated to 2.25%, as reflected on their pricing page

      • +1 vote

        Richard isn't it better that every financial post comes with disclaimer. Just checked that 86400 seems Chinese bank while upbank is Australian… reliability and coverage under government guarantee scheme may not be similar. Many people burnt in past with investment and last thing we need is to see OzBargain forum perceived as part of it.

        •  

          86400 have a full ADI (so guaranteed up to $250k as with any other normal deposit-accepting bank). Up uses Bendigo's ADI (so the $250k guarantee is shared across the banks).

  • -1 vote

    Ok thanks. Did it but didn’t include a phone number.

  •  

    Could I able pay youtube international subscription fee using this?

  •  

    Damn, missed out on the extra $5. Should've waited when i refered the partner last week

  • +10 votes

    (Referral solicitation in comments is not allowed)

    Uhhhh I never did. I said to anyone requesting a referral from anyone, remember to include your name and number.

  • +1 vote

    Wow, they're not making it easy to get that 2.25% interest rate 'bonus'. You need to do 5 transactions per month and have a maximum account balance of $50K. Otherwise, you're on 0.5% rate! That's pretty poor.

  • -3 votes

    developed by Bendigo and Adelaide Bank Limited

    so its owned by them ok

    •  

      so its owned

      apparently.

    • +7 votes

      I don't think Bendigo 'owns' them (I'll need to check though) but they use Bendigo's financial backend/accounts etc in a wholesale format, seemingly similar to how Aldi uses Telstra's network.

      Simplifies the regulations & insurance side, and lets them work on the actual product & services.

      •  

        We have a winner!

      • +1 vote

        similar to how Aldi uses Telstra's network.

        Aldi only use a subset of Telstra's network.

        • +1 vote

          We know you're obsessed with Boost jv because they use the FULL network, calm down. Switchblade88 should of used Optus as the example.

      • +3 votes

        Yeah, you're correct. Up Money uses Bendigo's accounts but the app development is done by Ferocia

      •  

        I dont mind this, maybe gives it more credibility. I am needing a transactions account with no monthly fee, so maybe I'll try this

        dont like that you have to do it on an app on the phone, my phone is terrible and old, probably doesnt even support the app

      • +6 votes

        "Up is designed, developed and delivered through a collaboration between Ferocia Pty and Bendigo and Adelaide Bank Limited… Up a subsidiary of Bendigo and Adelaide Bank Limited"

        This is from the front page of their website. It is nothing like the relationship between Aldi Mobile and Telstra. Up is fully owned and managed by Bendigo Banking Group, while Aldi acts as an independent virtual operator paying fees for Telstra.

    • +3 votes

      In the website footer: Up is designed, developed and delivered through a collaboration between Ferocia Pty Ltd ABN 67 152 963 712 ("Ferocia") and Bendigo and Adelaide Bank Limited ABN 11 068 049 178, AFSL and Australian Credit Licence No 237879 ("Bendigo").

  • +3 votes

    Does 'Up Everyday Accounts' fetch money automatically from 'Up Savers', like USaver & Ultra from UBank?

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